Singapore Morning News For June 5

Bank Mandiri targets Singapore private wealth
Indonesia’s Bank Mandiri wants to develop a foothold within Singapore’s private banking space, according to local reports.
— Hubbis

Rockwills Group Has Its Eyes on Indonesia
THE Rockwills Group, a wills and trust specialist in Malaysia and Singapore, is setting its sights on the Indonesian market for possible expansion of its estate planning business.
— Netral English

Milk companies adhere to code on sale of infant formula
The Sale of Infant Foods Ethics Committee Singapore (Sifecs), administered by the Health Promotion Board (HPB), receives 40 to 50 pieces of feedback each year.
— The New Paper

Singapore’s gold hub strategy bears fruit as imports, exports rise
SINGAPORE’s strategy to develop itself as a gold hub has proven successful, as its imports and exports almost doubled in the years after the goods and services tax (GST) was removed for investment-grade precious metals in 2012.
— The Business Times

Oil subdued as rising U.S. output undermines OPEC effort to cut supply
Oil markets were subdued on Monday, with Brent struggling to maintain $50 per barrel as efforts led by OPEC to tighten the market were undermined by persistently rising U.S. production.
— Reuters

Singapore to collaborate with Australia on cybersecurity
Singapore and Australia have inked an agreement to cooperate closely on cybersecurity, including information sharing, training, and joint exercises to safeguard critical information infrastructure.
— ZDNet

Dollar dented by jobs miss, London attacks hurt sterling; stocks subdued
The dollar languished near a seven-month low on Monday after U.S. jobs growth in May missed expectations while attacks in London that left at least seven people dead and 48 injured just days before Thursday’s national election dented sterling.
— Channel NewsAsia

Singapore investor snaps up North American student housing
A Singapore-based investor has purchased a portfolio of 18 North American student housing complexes and four rental apartment properties from a US private-equity firm in three deals valuing the properties at about $US1.6 billion ($2.2bn), the companies said.
— The Australian

Singaporeans feel ignored by financial services institutions
Singaporeans feel ignored by the financial services and insurance industry nearly half the time, according to a newly released survey by Qualtrics.
— MIS Asia

Over 20 leading Asia Pacific banks committed to live SWIFT gpi service
SWIFT announces today that 24 banks in Asia Pacific, part of over 70 leading banks globally, are live or planning to implement SWIFT gpi. These banks are members of an initiative that now includes over 110 banks globally. The SWIFT gpi initiative that launched in December 2015 went live with transactions in January 2017.
— PR Newswire

Singapore ready to take part in joint patrols in Sulu Sea
Singapore is ready to take part in joint patrols in the Sulu Sea in any way needed, Defence Minister Ng Eng Hen said yesterday.
— The New Paper

Terrorism Tops Agenda at Singapore Security Summit
Bloomberg’s David Tweed reports on the Singapore security conference. He speaks on “Bloomberg Daybreak: Asia.”
— Bloomberg

State intervention ‘keeps extremism at bay, fosters integration’: Shanmugam
The local brand of “activist state intervention”, comprising policy measures to cultivate integration, coupled with the legal framework, and acceptance from citizens, keeps extremist teaching at bay and allows Singaporeans to be tolerant.
— Today Online

4 factors that can push Singapore to be a frontrunner in 5G rollout
Singapore’s favourable regulatory environment can pave way for it to be a leading player in 5G implementation.
— Singapore Business Review

Could the M1 acquisition bring MyRepublic back to the telco race?
After MyRepublic lost its bid for a 4G spectrum to TPG Telecom during the fourth entrant auction held last December, a potential M1 bid could spur a second chance for the group to re-enter the telco race.
— Singapore Business Review

20 listed companies on SGX watch-list
TWENTY Singapore-listed companies have been placed on Singapore Exchange’s (SGX) watch-list for failing to meet the revised minimum trading price entry requirement announced in December 2016.
— The Business Times

Tritech Group enters into agreement for share placement worth S$2.02m
SINGAPORE-LISTED Tritech Group said on Monday it has entered into a placement agreement with an individual investor. Under the agreement, the investor will subscribe and pay S$0.07 for each of the 28.8 million new shares.
— The Business Times

More than 20 reports lodged over fake virus software scam, say police
More than 20 police reports have been made about an online scam that tricks victims into providing their credit or debit card information to buy software for a fake virus infection on their computers.
— Channel NewsAsia

Singapore ‘very happy’ with China’s contributions to Shangri-La Dialogue
Minister for Defence Ng Eng Hen has brushed aside concerns about China’s level of representation at a premier security forum held in Singapore over the weekend, adding that it was China’s contribution to the discussions that matter.
— Today Online

Stocks to watch: Jardine Matheson, Singapore Myanmar Investco, Perennial Real Estate
Mandarin Oriental International, a member of Jardine Matheson Group, said on Monday it wants to “test market interest in the possible sale” of The Excelsior in Hong Kong.
— The Business Times

Feature photo Leakhena Khat
Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

Singapore morning news by AEC News Today is your one stop source for Singapore news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies not politics.

Singapore Morning News For June 5 added by Leakhena Khat on June 5, 2017
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Leakhena Khat

Leakhena is a junior journalist at AEC News Today who is also currently studying International Relations, which she finds adds perspective to her work reporting on the Asean Community.

“I love what I am doing so much as it gives me a lot of great experience and provides challenges to my mind.